Indonesian tycoon to expand his influence to Malaysia?

If this report is true then Indonesia has some claim to being proud for its investors are extending Indonesia’s influence overseas.

Those in the know about Malaysia’s media scene said that if such a transaction were to take place it would likely be Penang-based Kwong Wah Yit Poh of KL-based Oriental Daily as they are the last two independent Chinese-language dailies that the Sin Chew Group in Malaysia hasn’t gobbled up, yet.

Rumours have been circulating in Penang that Indonesian tycoon James Riady is buying into a small Penang newspaper. The Riady family’s business interests, known as the Lippo Group, span property, hospitals, and media in Asia.

Sources close to Riady in Jakarta, when contacted, said: “There is no foundation to the rumours”.